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Joe Deely's picture
Partner, Deely Group

Involved with high-tech for last 30 years. Interested in energy.

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  • Dec 10, 2020
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Starbucks becomes the first corporation to sign a PPA for energy storage. Expect many more to follow.

Today, LevelTen Energy announced its support of Starbucks’ diversified renewable energy portfolio, including two marquee projects Starbucks unveiled at its 2020 Biennial Investor Day. Included in these projects is an innovative new agreement with Terra-Gen, facilitated by LevelTen, to virtually procure 5.5 megawatts of battery storage capacity and 24 megawatts of solar energy from Terra-Gen’s Edwards Sanborn Solar and Storage project.

Starbucks is the first corporation to execute this type of financial agreement for utility-scale storage, produced in coordination with LevelTen and EnergyGPS. This new contract not only provides corporate buyers the economic benefits of storage, but also delivers developers a guaranteed revenue stream, enabling a more practical method for storage project financing.

 

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Matt Chester's picture
Matt Chester on Dec 10, 2020

Really interesting-- so can PPAs be signed for storage alone or do they need to be paired for a solar or other renewable PPA to go with them? 

Joe Deely's picture
Joe Deely on Dec 10, 2020

so can PPAs be signed for storage alone or do they need to be paired for a solar or other renewable PPA to go with them? 

I don't think there is any reason why they couldn't - alhough obviously it makes more sense for a corporation to go with solar or wind first before signing a storage PPA.

 

 

Joe Deely's picture
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